Frogmore Real Estate Partners Fund Managers Limited

Overview

Frogmore Real Estate Partners Fund Managers Limited is a UK-focused, fully integrated real estate investment manager. Founded in 1961, the firm has extensive experience in the UK property market and offers investors solutions across non-listed vehicles, customised separate accounts, and co-investment opportunities. The company's strategy is to create and enhance income-producing assets through active value creation and extensive knowledge of local markets. Over the years, Frogmore has launched several co-mingled real estate funds, including Frogmore Real Estate Partners L.P. (FREP I) in 2005, which closed with approximately £330 million in investor commitments, and its successor fund, FREP II, which closed in 2009 with around £195 million. In 2015, the firm successfully closed its value-add fund, FREP III, with approximately £400 million in commitments globally. The most recent fund, FREP IV, closed in July 2022, raising £150 million in commitments. This fund continues Frogmore's approach of acquiring income-producing assets and undertaking significant asset management initiatives to create value, including refurbishment, re-purposing, and selective development of obsolete buildings to achieve attractive risk-adjusted returns for investors. The firm's expertise in generating returns in various market conditions is underpinned by its 60-year heritage of investing in all sectors of UK real estate over multiple market cycles. Frogmore's investment strategy is characterized by cautious pragmatism, underpinned by nimbleness in approach. The firm focuses on generating value by seeking opportunities where assets can be purchased, often off-market, and enhanced through its expertise. Frogmore has developed a well-defined, consistent investment process that has delivered attractive returns over multiple cycles. This approach involves a high degree of teamwork, rigorous discipline, and risk management from deal sourcing to exit, ensuring that assets are optimized to drive value and enhanced returns upon exit. The firm's independence and flexibility enable it to take an innovative and enterprising approach to property investment. Frogmore's portfolio spans all sectors, including retail, office, industrial, residential, and alternative investments such as retirement park homes, student housing, and data centers. The firm has invested in and sold over £7 billion worth of real estate in the past 20 years alone. The team, based in London, carries out all aspects of origination, asset management, planning, development, and debt finance in-house. The current senior team has vast experience and recognition in the marketplace and has carried out over £7 billion of transactions since 1995 through their strong network of relationships. Through its well-defined investment process, Frogmore has delivered consistent returns for its investors over multiple cycles. A high degree of teamwork, rigorous discipline, and risk management from deal sourcing to exit has positioned Frogmore as a leader in real estate fund management in the UK.

Investment Focus

• Income-producing assets
• Active value creation potential
• Opportunities for refurbishment, re-purposing, or selective development

Portfolio Companies